Flanigan's Reports Earnings

For the 13 weeks

For the 13 weeks

ended March 31,

ended April 1,

2018

2017

REVENUES

RESTAURANT FOOD AND

      BAR SALES  

$

23,885,000

$

22,583,000

PACKAGE STORE SALES  

4,866,000

4,191,000

FRANCHISE RELATED REVENUES 

443,000

408,000

RENTAL INCOME     

158,000

152,000

OWNER'S FEE        

37,000

37,000

OTHER OPERATING INCOME  

67,000

62,000

TOTAL REVENUES 

$

29,456,000

$

27,433,000

NET  INCOME ATTRIBUTABLE

TO FLANIGAN'S ENTERPRISES, INC

$

1,397,000

$

1,047,000

NET INCOME PER COMMON SHARE

BASIC AND DILUTED    

$

0.75

$

0.56

For the 26 weeks

For the 26 weeks

ended March 31,

ended April 1,

2018

2017

RESTAURANT FOOD AND

     BAR SALES   

$

46,641,000

$

43,868,000

PACKAGE STORE SALES  

9,879,000

8,869,000

FRANCHISE RELATED REVENUES 

823,000

786,000

RENTAL INCOME                                        

315,000

311,000

OWNER'S FEE                                                      

75,000

75,000

OTHER OPERATING INCOME   

116,000

118,000

     TOTAL REVENUES  

$

57,849,000

$

54,027,000

NET INCOME ATTRIBUTABLE    

TO FLANIGAN'S ENTERPRISES, INC.        

$

2,018,000*

$

1,712,000

NET INCOME PER COMMON SHARE

BASIC AND DILUTED                    

$

1.09

$

0.92

*On December 22, 2017 the Tax Cuts and Jobs Act ("The Act") was signed into law, reducing the corporate income tax rate to 21%.  Consequently, we recorded a decrease of approximately $268,000 to our net deferred tax asset, with a corresponding adjustment to deferred income tax expense for the thirteen weeks ended December 30, 2017.